Practice or job

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Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2011 Please can somebody guide on whether to start with a practice or job. I am currently working in a corporate, but thinking of starting practice. I have not yet developed any clients, so getting afraid of starting with practice. Whether to start with a CA firm first & build contacts or start solely? Please guide me.. And what is the scope in practice?

CA SUMiT PATWARi

CA SUMiT PATWARi (Expert)
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14 November 2011 Sir, first of all it depends on your interets. And also on your links through which you can approach target clients.

No doubts, it will take some time to develop your practise initially, but then you will be working for your business and not else's. Rewards would surely flow with time corresponding to the efforts put in!!

Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2011 But should i start with individual practice or join some CA firm initially & develop my client base??

CA SUMiT PATWARi

CA SUMiT PATWARi (Expert)
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15 November 2011 Join some CA firm initially. This will help you get practical experience and expertise and also will help you build client contacts !!

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Querist : Anonymous

Querist : Anonymous (Querist)

15 November 2011 Thanx.......

RG - A Helping Hand

RG - A Helping Hand (Expert)
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24 November 2011 If u r really interested in practice in future then i would advise you to join some CA firm as an employee.

Learn the working of a firm, how to tackle cliemts, how to handle work pressure. After getting enough confidence and contacts start your own firm.

RG

RG - A Helping Hand

RG - A Helping Hand (Expert)
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24 November 2011 One more: do take the decision in hurry regarding doing practice. Doing practice and handling clients without experience is not a good idea.

RG

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2011 Thank u Sir. But sir, again working in a CA firm doesnt sound well. I'll be an employee there & if i leave from there the CA will not guide me further or support me. So, i think becoming an associate in some firm will help. Please guide me on this. Thanks in advance. How is the market in order to start practice? and any special field to be selected?

Harsh Karan Singh

Harsh Karan Singh (Expert)
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18 December 2011 Hi,

The idea of entering into practice is good and sounds plausible ony if u r willing to invest some time and efforts into it and wait for the returns. Further, the point of joining a CA firm before entering into practice is just to help you understand how a praftice is set up and operates, it is upto u how to learn and of course no body is really going to spoon feed u or hold ur hand and teach as to how to run a practice. Do u really expect them to show u how they are running their own business and trade, it is something that comes naturally to a professional once he is into the practice for sometime. My suggestion to you is, if you are so apprehensive take up a job or else cool off ur thoughts, it takes guts to enter practice take some time think of what ur objectives are and then take ur decision.
As far as money part is concerned u can join some reputed local CA firm and start ur own practice alongside, this way you shall have a comfortable annuity based as well as an opportunity to help ur practice.

Hope u do well.
Regards,
Harsh